NEW YORK, Feb. 16, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Greenidge Generation Holdings, Inc. (NASDAQ: GREE), MP Materials Corp. (NYSE: MP), and Roblox Corp. (NYSE: RBLX). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
Greenidge Generation Holdings, Inc. (NASDAQ: GREE)
On February 2, 2022, Greenidge announced selected preliminary operating results for the fourth quarter and full year of 2021. Among other results, the Company reported that it “[e]xpects GAAP Net Loss of $(51) to $(41) million, including a noncash goodwill impairment charge related to the Support.com business of $42 to $47 million[.]”
On this news, Greenidge’s stock price fell $1.51, or 11.93%, to close at $11.15 per share on February 2, 2022, thereby injuring investors.
For more information on the Greenidge investigation go to: https://bespc.com/cases/GREE
MP Materials Corp. (NYSE: MP)
On February 3, 2022, market analyst Bonitas Research published a report accusing MP Materials of an abusive transfer price manipulation scheme with a related party. In relevant part, the report alleged that a related party “overpaid for MP concentrates to artificially inflate MP’s profits. The 2021 scheme conveniently coincided with the SPAC insider lock-up expiration so that MP Insiders could sell MP stock at artificially inflated prices.”
On this news, MP Material’s stock price declined by $5.61 per share, or approximately 14.3%, from $39.36 per share to close at $33.75 per share on February 3, 2022.
For more information on the MP Materials investigation go to: https://bespc.com/cases/MP
Roblox Corp. (NYSE: RBLX)
On February 3, 2022, The Bear Cave published a report alleging that Roblox’s online platform intended for children aged six to fourteen is “also the leading platform for pedophiles.” The report detailed various arrests and indictments of sexual offenses against underage victims as young as five years old, while “[t]he company has engaged in litigation and intimidation to help conceal allegations of pedophilia on the platform.” Furthermore, Roblox’s head of safety and moderation has been accused of “peculiar” social media activity, including numerous “likes” of sexualized cosplayers and the following of a “furry porn” account, and Roblox’s former social media manager allegedly ran a pornographic blog while employed by the Company.
On this news, Roblox’s stock declined as much as 8.5% during intraday trading on February 3, 2022.
For more information on the Roblox investigation go to: https://bespc.com/cases/RBLX
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
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